Aztec net profit up 390%

BANGALORE: Aztec Software and Technology Services Limited (Aztec) has posted

nearly five-fold increase in its turnover for the fiscal 2000-01. According to a

release, the firm’s turnover this year has touched Rs 78.87 crore, against Rs

13.69 crore in the previous year, a whopping 476% increase. Net profit has also

gone up by 390 per cent to Rs 20.15 crore, as against Rs 4.11 crore in the

previous year. The company has announced a dividend of 10 per cent.

While a significant part of the revenue growth has come from business with

existing brand customers, the firm has also added six new customers in the last

quarter of the fiscal, the statement said. The company recently entered into a

Master Business Agreement with Microsoft to offer technology services across all

Microsoft products and platforms. This could translate into growth in billed

revenues for the company during the subsequent quarters, the release said.

Announcing the fourth quarter results, company chairman S Parthasarathy said

"The fact that we have continued to grow aggressively despite the

prevailing tough competition in the market environment, underscores the unique

value we are able to offer our customers," he said.

Keeping in line with its policy on openness and transparency, the firm has

voluntarily declared the consolidated results for its worldwide operations. In

this regard, the firm has posted a turnover of Rs 80.66 crore for the year ended

March 31, 2001, showing a growth of 430 per cent.